Alpha Cubed Investments LLC Sells 205 Shares of Wells Fargo & Company (NYSE:WFC)

Alpha Cubed Investments LLC cut its stake in shares of Wells Fargo & Company (NYSE:WFC) by 0.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 36,180 shares of the financial services provider’s stock after selling 205 shares during the period. Alpha Cubed Investments LLC’s holdings in Wells Fargo & Company were worth $2,541,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Clear Harbor Asset Management LLC lifted its stake in Wells Fargo & Company by 2.7% in the 4th quarter. Clear Harbor Asset Management LLC now owns 53,149 shares of the financial services provider’s stock worth $3,733,000 after purchasing an additional 1,381 shares in the last quarter. Charles Schwab Trust Co bought a new position in shares of Wells Fargo & Company in the fourth quarter worth $238,000. Royal Fund Management LLC raised its position in shares of Wells Fargo & Company by 232.1% in the fourth quarter. Royal Fund Management LLC now owns 63,636 shares of the financial services provider’s stock worth $4,470,000 after buying an additional 44,472 shares in the last quarter. Ballentine Partners LLC boosted its stake in Wells Fargo & Company by 4.1% during the fourth quarter. Ballentine Partners LLC now owns 41,289 shares of the financial services provider’s stock valued at $2,900,000 after buying an additional 1,622 shares during the period. Finally, Culbertson A N & Co. Inc. grew its position in Wells Fargo & Company by 7.9% during the fourth quarter. Culbertson A N & Co. Inc. now owns 71,406 shares of the financial services provider’s stock worth $5,016,000 after buying an additional 5,219 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Trading Up 1.7 %

NYSE:WFC opened at $77.22 on Tuesday. The stock has a market cap of $257.11 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 1.16 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The company’s 50 day moving average price is $72.83 and its 200-day moving average price is $63.60. Wells Fargo & Company has a 52 week low of $46.12 and a 52 week high of $78.13.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company’s revenue was down .5% compared to the same quarter last year. During the same period last year, the business posted $0.86 EPS. On average, equities research analysts forecast that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

WFC has been the subject of several recent analyst reports. Piper Sandler boosted their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. UBS Group increased their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Keefe, Bruyette & Woods upped their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target on the stock in a research report on Tuesday, October 8th. Finally, Citigroup upped their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Wells Fargo & Company currently has a consensus rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.